I guess to be fair to my title, I've gotten a piece of the pie before, but I was slightly less thrilled about it back then than I am for this one now. Similarly I didn't see either coming, but at least this one I'm making money off of, so that's awesome.
If you recall, back in January the meme stocks, most notably $GME and $AMC started taking off for the moon. We were confused back then, and that's when we learned about how billionaires short stocks and when they short a high enough %, us retail traders can take the other side and try to fuck them. Well, I had 1,363 shares of $AMC at around $14 a share in January, and I sold for 20% profit. Not a bad day's work if you can get it. I kept 150 shares for fun, just for kicks, for shits n gigs. The stock then retreated and for the last 5-6 months has hung around the $10 level, not making much noise.
And then, this week, BOOM. I still don't truly understand who is pulling these strings and making things happen, but $AMC has taken off once again, hitting its all time and it's not even close. People are once again making millions upon millions of dollars hand over fist. I don't have any calls or anything like that, just my 150 shares which I'm not bummed about, because like, I made that 20% and that was sort of the point, to make fast money off this highly volatile stocks and be done with it. So my 150 shares at $14.41 are now up 334.18%, which is nice. Do the math if I held all 1,363, but I'd prefer you not.
Now the question is….what the fuck do I do? How long do I hold? That's the sick part- does this puppy do another 100% tomorrow? Or does someone snap their fingers and I lose it all? I have not a clue. I'm just glad to be a part of it, and being up 334% is better than having sold it all in January. Moral of the story? Always hold. My homies CLOV, MILE, and OPEN all made moves today too. If just one of those 3 could become a real company within the next couple years I will be a happy, happy man. And most importantly, have I mentioned recently that I love $PENN? My one true love.
I try to read about this stuff as much as I can so I am somewhat informed on the moving and shaking and what it all means, but when it comes down to it, I'm just glad I'm on the other side of this
A true shame.
Fine print: Don't listen to anyone at BarstoolSports, especially me, for stock advice. I do it for fun and I enjoy it, but using BSS for financial advice is a bad idea.